Bernstein: Bitcoin will replace gold in the next decade
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2024-12-05 21:03 6,392
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Golden Finance reports that brokerage firm Bernstein predicts that within the next decade, Bitcoin will replace gold as the main "store of value" and become an integral part of institutional and corporate finance. This prediction was made by analyst Gautam Chhugani in his report after Bitcoin price climbed to $100,000 and achieved a 141% annual gain. This significant growth is largely due to market expectations after the US election that the Trump administration may introduce more cryptocurrency-friendly policies. The report further predicts that by the end of 2025, the price of Bitcoin may soar to $200,000.
At the same time, Gil Luria of D.A. Davidson also believes that Bitcoin is an appreciation asset with a low correlation to inflation, which is very different from gold. He pointed out that Bitcoin's value depends more on its level of adoption than traditional economic indicators. However, he also admitted that Bitcoin still needs to go through a long development process before it can truly become a mainstream transaction medium and unit of account.